Exchange Bulletin

Automotive Properties Real Estate Investment Trust (APR.UN) To Trade On Toronto Stock Exchange


July 21, 2015

Automotive Properties Real Estate Investment Trust (the “REIT”) – An application has been granted for the original listing in the Industrial category of 18,558,253 units (“Units”) of which 7,500,000 Units will be issued and outstanding and 11,058,253 Units will be reserved for issuance upon completion of a public offering (the “Offering”).

Listing of the Units will become effective at 5:01 p.m. on Tuesday, July 21, 2015 in anticipation of the Offering closing on Wednesday, July 22, 2015. The Units will be posted for trading at the opening on July 22, 2015 upon confirmation of the closing of the Offering.

The REIT is subject to the reporting requirements of Section 501 of the TSX Company Manual.

Stock Symbol: "APR.UN" CUSIP: 05329M 10 4 Trading Currency: CDN$

Temporary Market Maker: Mackie Research Capital Corp.

Other Markets: None

Registrations of interests and transfers of Units will be effected electronically through the non-certificated inventory system administered by CDS Clearing and Depository Services Inc. Beneficial owners of Units will not, except in certain limited circumstances, be entitled to receive physical certificates evidencing their ownership of Units. A subscriber who purchases Units will receive only a customer confirmation from the registered dealer from or through whom Units are purchased and who is a CDS participant.

Additional information on the Units may be found in the final prospectus dated July 10, 2015 (the “Prospectus”), which is available at www.SEDAR.com. Capitalized terms not otherwise defined are as defined in the Prospectus.

Head Office Address: 133 King Street East
Suite 300
Toronto, ON
M5C 1G6
Head Office Telephone Number: (647) 789-2445
Fax Number: (905) 882-4246
Email Address: mlamb@automotivereit.ca
Website: N/A
Investor Relations: Milton Lamb
(647) 789-2445
mlamb@automotivereit.ca
Chief Financial Officer & Corporate Secretary: Andrew Kalra
Incorporation: The REIT is an unincorporated, open-ended real estate investment trust established pursuant to a Declaration of Trust dated June 1, 2015, established under the laws of the Province of Ontario.
Fiscal Year End: December 31
Nature of Business: The REIT has been formed to own primarily income-producing automotive dealership properties located in Canada. On closing of the Offering, the REIT will indirectly acquire a portfolio of 26 commercial properties located in Ontario, Saskatchewan, Alberta and British Columbia.
Transfer Agent & Registrar for the Units: Computershare Investor Services Inc. at its principal office in Toronto.
Distributions: The REIT intends to adopt a distribution policy pursuant to which it will make monthly cash distributions to Unitholders and, through the Partnership, holders of Class B LP Units, initially equal to, on an annual basis, approximately 90% of the REIT’s estimated AFFO for the Forecast Period. Unitholders of record as at the close of business on the last business day of the month preceding a Distribution Date will have an entitlement on and after that day to receive distributions in respect of that month on such Distribution Date. The first distribution will be for the period from closing to August 31, 2015 and will be made on September 15, 2015 in the amount of $0.086 per Unit (assuming that closing occurs on July 22, 2015). The REIT intends to make subsequent monthly distributions in the estimated amount of $0.067 per Unit thereafter.
Public Offering: Pursuant to the terms of the Prospectus, 7,500,000 Units at a price of $10 per Unit are being offered to the public by TD Securities Inc., Canaccord Genuity Corp., Scotia Capital Inc., BMO Nesbitt Burns Inc., RBC Dominion Securities Inc., GMP Securities L.P., National Bank Financial Inc., Raymond James Ltd. and Desjardins Securities Inc., as underwriters.